| Product Code: ETC5895378 | Publication Date: Nov 2023 | Updated Date: Oct 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Summon Dutta | No. of Pages: 60 | No. of Figures: 30 | No. of Tables: 5 |
In 2024, Grenada continued to depend heavily on imports of truck refrigeration units, with top exporters being the USA, Trinidad and Tobago, UAE, UK, and Hong Kong. Despite high concentration levels indicated by the Herfindahl-Hirschman Index (HHI), the market saw impressive growth with a compound annual growth rate (CAGR) of 31.29% from 2020 to 2024. However, a slight decline was observed in the growth rate from 2023 to 2024 at -9.07%, suggesting a potential shift in market dynamics. Continued monitoring and analysis will be crucial for stakeholders in this sector.
The truck refrigeration unit market in Grenada is growing due to the rising demand for refrigerated transportation in the food, pharmaceutical, and chemical industries. These units are essential for maintaining the integrity and quality of temperature-sensitive goods during transportation. With the increasing focus on food safety and supply chain efficiency, the demand for truck refrigeration units continues to grow.
The Grenada truck refrigeration unit market is expanding due to the increasing demand for temperature-sensitive cargo transportation, particularly in the food and pharmaceutical industries. Refrigerated trucks are essential for ensuring the safe transport of perishable goods. With the growth of Grenadas logistics and food sectors, the need for truck refrigeration units is rising.
The truck refrigeration unit market in Grenada faces challenges related to the relatively low demand for refrigerated transport. The high initial cost of refrigeration units, coupled with limited local suppliers and support services, makes these systems less accessible for many businesses. The small-scale nature of the local market further limits adoption.
The truck refrigeration unit market in Grenada is influenced by the growth in the transportation of perishable goods such as food and pharmaceuticals. Government policies that support the agricultural and food processing sectors help boost demand for refrigerated trucks and refrigeration units. Policies focus on improving the logistics infrastructure for temperature-sensitive goods, ensuring that transportation and storage solutions meet international safety and quality standards. Financial incentives are available for businesses investing in energy-efficient and environmentally friendly refrigeration technologies.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Grenada Truck Refrigeration Unit Market Overview |
3.1 Grenada Country Macro Economic Indicators |
3.2 Grenada Truck Refrigeration Unit Market Revenues & Volume, 2021 & 2031F |
3.3 Grenada Truck Refrigeration Unit Market - Industry Life Cycle |
3.4 Grenada Truck Refrigeration Unit Market - Porter's Five Forces |
3.5 Grenada Truck Refrigeration Unit Market Revenues & Volume Share, By Vehicle Type, 2021 & 2031F |
3.6 Grenada Truck Refrigeration Unit Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.7 Grenada Truck Refrigeration Unit Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.8 Grenada Truck Refrigeration Unit Market Revenues & Volume Share, By Industry Vertical, 2021 & 2031F |
3.9 Grenada Truck Refrigeration Unit Market Revenues & Volume Share, By Bus Length, 2021 & 2031F |
3.10 Grenada Truck Refrigeration Unit Market Revenues & Volume Share, By Size, 2021 & 2031F |
4 Grenada Truck Refrigeration Unit Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing demand for temperature-controlled transportation of perishable goods |
4.2.2 Growing adoption of refrigerated trucks in the food and beverage industry |
4.2.3 Stringent regulations regarding food safety and quality standards |
4.3 Market Restraints |
4.3.1 High initial investment and maintenance costs of truck refrigeration units |
4.3.2 Limited infrastructure and technology in Grenada for refrigerated transportation |
4.3.3 Lack of skilled technicians for installation and servicing of refrigeration units |
5 Grenada Truck Refrigeration Unit Market Trends |
6 Grenada Truck Refrigeration Unit Market Segmentations |
6.1 Grenada Truck Refrigeration Unit Market, By Vehicle Type |
6.1.1 Overview and Analysis |
6.1.2 Grenada Truck Refrigeration Unit Market Revenues & Volume, By LCV, 2021-2031F |
6.1.3 Grenada Truck Refrigeration Unit Market Revenues & Volume, By M&HCV, 2021-2031F |
6.1.4 Grenada Truck Refrigeration Unit Market Revenues & Volume, By Trailer (Container), 2021-2031F |
6.1.5 Grenada Truck Refrigeration Unit Market Revenues & Volume, By Bus, 2021-2031F |
6.2 Grenada Truck Refrigeration Unit Market, By Type |
6.2.1 Overview and Analysis |
6.2.2 Grenada Truck Refrigeration Unit Market Revenues & Volume, By Split system, 2021-2031F |
6.2.3 Grenada Truck Refrigeration Unit Market Revenues & Volume, By Roof mount system, 2021-2031F |
6.3 Grenada Truck Refrigeration Unit Market, By Application |
6.3.1 Overview and Analysis |
6.3.2 Grenada Truck Refrigeration Unit Market Revenues & Volume, By Frozen, 2021-2031F |
6.3.3 Grenada Truck Refrigeration Unit Market Revenues & Volume, By Chilled, 2021-2031F |
6.4 Grenada Truck Refrigeration Unit Market, By Industry Vertical |
6.4.1 Overview and Analysis |
6.4.2 Grenada Truck Refrigeration Unit Market Revenues & Volume, By Frozen food, 2021-2031F |
6.4.3 Grenada Truck Refrigeration Unit Market Revenues & Volume, By Pharma drugs & chemicals, 2021-2031F |
6.4.4 Grenada Truck Refrigeration Unit Market Revenues & Volume, By Ambulance & passenger transport, 2021-2031F |
6.5 Grenada Truck Refrigeration Unit Market, By Bus Length |
6.5.1 Overview and Analysis |
6.5.2 Grenada Truck Refrigeration Unit Market Revenues & Volume, By |
6.5.3 Grenada Truck Refrigeration Unit Market Revenues & Volume, By 8-12 meters, 2021-2031F |
6.5.4 Grenada Truck Refrigeration Unit Market Revenues & Volume, By >12 meters, 2021-2031F |
6.6 Grenada Truck Refrigeration Unit Market, By Size |
6.6.1 Overview and Analysis |
6.6.2 Grenada Truck Refrigeration Unit Market Revenues & Volume, By 20-feet, 2021-2031F |
6.6.3 Grenada Truck Refrigeration Unit Market Revenues & Volume, By 40-feet, 2021-2031F |
6.6.4 Grenada Truck Refrigeration Unit Market Revenues & Volume, By Others, 2021-2031F |
7 Grenada Truck Refrigeration Unit Market Import-Export Trade Statistics |
7.1 Grenada Truck Refrigeration Unit Market Export to Major Countries |
7.2 Grenada Truck Refrigeration Unit Market Imports from Major Countries |
8 Grenada Truck Refrigeration Unit Market Key Performance Indicators |
8.1 Average age of truck refrigeration units in Grenada |
8.2 Percentage of perishable goods transported using refrigerated trucks |
8.3 Number of refrigerated truck service centers in Grenada |
9 Grenada Truck Refrigeration Unit Market - Opportunity Assessment |
9.1 Grenada Truck Refrigeration Unit Market Opportunity Assessment, By Vehicle Type, 2021 & 2031F |
9.2 Grenada Truck Refrigeration Unit Market Opportunity Assessment, By Type, 2021 & 2031F |
9.3 Grenada Truck Refrigeration Unit Market Opportunity Assessment, By Application, 2021 & 2031F |
9.4 Grenada Truck Refrigeration Unit Market Opportunity Assessment, By Industry Vertical, 2021 & 2031F |
9.5 Grenada Truck Refrigeration Unit Market Opportunity Assessment, By Bus Length, 2021 & 2031F |
9.6 Grenada Truck Refrigeration Unit Market Opportunity Assessment, By Size, 2021 & 2031F |
10 Grenada Truck Refrigeration Unit Market - Competitive Landscape |
10.1 Grenada Truck Refrigeration Unit Market Revenue Share, By Companies, 2024 |
10.2 Grenada Truck Refrigeration Unit Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |